Anonymous
11/22/2025 15:49
Subject: Can we afford to retire now?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:The real hidden cost of retiring early is losing 401k catchup contributions.
this year I did the $23,500 and the new $11,250 catch up for 60-63. So a total of $34,750. And that is before match. For instance Fannie Mae pays a 8 percent match and they match on bonus too.
Someon making lets say $225K with a 75K bonus will get a $24,000 match.
So that would be $58,750 in 401k in one year.
60-63 alone doing max can massively increase 401k
Now imagine you work till 67 vs retiring early at 59.5 when you can first take your 401k penalty free and and did max each year with catch up at a place with a 8 percent match. Given the new 60-63 super catch ups it would grow a ton those last 7.5 years and you will be compounding your current funds too. Most likely it may double or even triple in size those last 7.5 years.
My BIL early retired at 62 in 2020. He had been pulling from his 401k the last 5 years and missed most of bull market Fall 2022 to today. By time he hits RMDs at 73 he will have used up a ton of his 401k already.
Why would I work until 67 if I have $7M now at 49. I am retiring now. LOL.
Because you are stealing from your children and grandchildren. And to be honest 10 million is minimun at that age. College alone will be $500,000 a kid for you and medical insurance soon to be $50,000 a year based on past increases.
And property taxes will be $50,000 on a average house and new cars will be 100K. and these projections arse just in next 10-15 years.
My Mother in law who bought her house in 1964 today her property tax equal her purchase price. Someone buyng a house in Bethesda in 2024 for two million by 2084 will be paying two million a year property tax. Sounds scary. But it took my MILs house just 60 years to go to an annual property tax bill equal to her purchase price.
College is paid for. We only have one kid so that we would have more financial freedom. With $7M we have plenty to pay for health insurance and property taxes. Plenty! But by all means go ahead and widdle away for 10+ more years in you 9-5. I will be living my life fully.
Anyone telling to you keep working has mental health issues with severe anxiety. Ignore. If you cannot retire with SEVEN f-ing millions, then 90% of US population cannot retire at all. Ever. You are at the point where money makes money for you and you do not need to work for income and you won't even touch your principal to have a nice life. congrats and ignore all this BS how you owe your kids sizeable trust funds, houses, private college grad schools, private schools for grandkids, etc. There is no such requirement.
Well the issue is that if you have $7 F'ing million at age 52, you likely are living a lifestyle that cannot continue to be supported by retiring at 52 and living until 85+. So yes, you "could" retire, many of us want to travel (and not budget travel), live in a nice house/condo, and continue living a similar lifestyle to while we were working (maybe downsize but still nice home). And that in our VHCOLA is not very feasible on $7M, if I have to pay for 13+ years of healthcare and live the way I want. Healthcare for us at 55 is $3.2K/month with a $7K/$14K deductible right now (and that's ONLY medical). So I'd estimate we will spend $4.5K/month on medical/dental/vision easily, more if either of us has an issue (spouse needed a few MRIs last year due to a new issue---well you have to pay the deductible first, and ongoing PT)
So most of us would rather work a bit longer to have the life we want, especially if you enjoy your job.
It's not how PP was phrasedIt was literally anxiety driven BS. If you want to live on a lap of luxury and love your jobs then you are obviously not going to relate to OP or anyone else who is asking this question "can we afford to retire now" in the first place.
But the OP is "living it up" Paying $90K/year for HS? and college is not fully saved for, and house is not paid off. They are not living like someone who wants to "retire early". Most who plan to do that have it all saved for education and house paid off....and they would be using public schools for K-12, not expensive private schools. had they done that, they likely could easily retire right now.
Maybe they are willing to sacrifice private schools or downsize their home earlier to pay for schools or whatever. Who knows. The point is that "I love my job and can keep doing it till the day I die or at least till 65" doesn't apply to them. They wouldn't be asking had they been enjoying their work lives.
Anonymous
11/20/2025 12:14
Subject: Can we afford to retire now?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:The real hidden cost of retiring early is losing 401k catchup contributions.
this year I did the $23,500 and the new $11,250 catch up for 60-63. So a total of $34,750. And that is before match. For instance Fannie Mae pays a 8 percent match and they match on bonus too.
Someon making lets say $225K with a 75K bonus will get a $24,000 match.
So that would be $58,750 in 401k in one year.
60-63 alone doing max can massively increase 401k
Now imagine you work till 67 vs retiring early at 59.5 when you can first take your 401k penalty free and and did max each year with catch up at a place with a 8 percent match. Given the new 60-63 super catch ups it would grow a ton those last 7.5 years and you will be compounding your current funds too. Most likely it may double or even triple in size those last 7.5 years.
My BIL early retired at 62 in 2020. He had been pulling from his 401k the last 5 years and missed most of bull market Fall 2022 to today. By time he hits RMDs at 73 he will have used up a ton of his 401k already.
Why would I work until 67 if I have $7M now at 49. I am retiring now. LOL.
Because you are stealing from your children and grandchildren. And to be honest 10 million is minimun at that age. College alone will be $500,000 a kid for you and medical insurance soon to be $50,000 a year based on past increases.
And property taxes will be $50,000 on a average house and new cars will be 100K. and these projections arse just in next 10-15 years.
My Mother in law who bought her house in 1964 today her property tax equal her purchase price. Someone buyng a house in Bethesda in 2024 for two million by 2084 will be paying two million a year property tax. Sounds scary. But it took my MILs house just 60 years to go to an annual property tax bill equal to her purchase price.
College is paid for. We only have one kid so that we would have more financial freedom. With $7M we have plenty to pay for health insurance and property taxes. Plenty! But by all means go ahead and widdle away for 10+ more years in you 9-5. I will be living my life fully.
Anyone telling to you keep working has mental health issues with severe anxiety. Ignore. If you cannot retire with SEVEN f-ing millions, then 90% of US population cannot retire at all. Ever. You are at the point where money makes money for you and you do not need to work for income and you won't even touch your principal to have a nice life. congrats and ignore all this BS how you owe your kids sizeable trust funds, houses, private college grad schools, private schools for grandkids, etc. There is no such requirement.
Well the issue is that if you have $7 F'ing million at age 52, you likely are living a lifestyle that cannot continue to be supported by retiring at 52 and living until 85+. So yes, you "could" retire, many of us want to travel (and not budget travel), live in a nice house/condo, and continue living a similar lifestyle to while we were working (maybe downsize but still nice home). And that in our VHCOLA is not very feasible on $7M, if I have to pay for 13+ years of healthcare and live the way I want. Healthcare for us at 55 is $3.2K/month with a $7K/$14K deductible right now (and that's ONLY medical). So I'd estimate we will spend $4.5K/month on medical/dental/vision easily, more if either of us has an issue (spouse needed a few MRIs last year due to a new issue---well you have to pay the deductible first, and ongoing PT)
So most of us would rather work a bit longer to have the life we want, especially if you enjoy your job.
It's not how PP was phrased
But the OP is "living it up" Paying $90K/year for HS? and college is not fully saved for, and house is not paid off. They are not living like someone who wants to "retire early". Most who plan to do that have it all saved for education and house paid off....and they would be using public schools for K-12, not expensive private schools. had they done that, they likely could easily retire right now.
Anonymous
11/19/2025 23:13
Subject: Re:Can we afford to retire now?
Anonymous wrote:Anonymous wrote:Anonymous wrote:To the OP: while the consensus that you’re not ready to retire tomorrow is sound, please don’t let this board convince you that you need to wait 5 years! My advice would be to start tracking your expenses more closely for a year (I use Simplifi as an easy option with a good app) while continuing to save what’s comfortable on your great earnings. With a year of data, you may well find that you can retire or significantly scale back earnings in 1-2 years. Personally, my goal is 55 and ~$4m in today’s dollars plus a paid off house. But I know that works for us because I know what we spend to feel comfortable.
Did you miss the part where she’s still paying for private HS and hasn’t paid for college yet?
+1
Yup! the OP "Could retire now" but not with the private HS and college not fully funded yet. Oh, and still owes over $600K on their house. Most planning to retire early have education taken care of (saved for) and own their home (or have the money set aside to pay it off and it's not part of their "retirement dollar amount").
This is the ideal scenario which doesn't always work in reality. In real life people in their 50s are not always growing their NW even if they keep working. Some even lose their livelihood or at least have it vastly reduced by having to take on less enjoyable, more junior and less paying jobs. Investments don't always go up in real world because people invest into different things that don't always go up and some people take risks that don't pan out and they lose a lot.
It's possible and not infrequent that such families have to rethink the path for their kids when their college savings fall short and they find themselves in a situation unable to keep the stream of income they counted on (or maybe sometimes unwilling due to various reasons like failed marriage/divorce/health issues, etc). People also sometimes downsize housing for economic reasons even if their kids aren't done with school yet or fully launched or whatever. Expecting this won't happen and NOT planning for exit plan with LESS is also not a very smart way to live.
Anonymous
11/19/2025 22:58
Subject: Can we afford to retire now?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:The real hidden cost of retiring early is losing 401k catchup contributions.
this year I did the $23,500 and the new $11,250 catch up for 60-63. So a total of $34,750. And that is before match. For instance Fannie Mae pays a 8 percent match and they match on bonus too.
Someon making lets say $225K with a 75K bonus will get a $24,000 match.
So that would be $58,750 in 401k in one year.
60-63 alone doing max can massively increase 401k
Now imagine you work till 67 vs retiring early at 59.5 when you can first take your 401k penalty free and and did max each year with catch up at a place with a 8 percent match. Given the new 60-63 super catch ups it would grow a ton those last 7.5 years and you will be compounding your current funds too. Most likely it may double or even triple in size those last 7.5 years.
My BIL early retired at 62 in 2020. He had been pulling from his 401k the last 5 years and missed most of bull market Fall 2022 to today. By time he hits RMDs at 73 he will have used up a ton of his 401k already.
Why would I work until 67 if I have $7M now at 49. I am retiring now. LOL.
Because you are stealing from your children and grandchildren. And to be honest 10 million is minimun at that age. College alone will be $500,000 a kid for you and medical insurance soon to be $50,000 a year based on past increases.
And property taxes will be $50,000 on a average house and new cars will be 100K. and these projections arse just in next 10-15 years.
My Mother in law who bought her house in 1964 today her property tax equal her purchase price. Someone buyng a house in Bethesda in 2024 for two million by 2084 will be paying two million a year property tax. Sounds scary. But it took my MILs house just 60 years to go to an annual property tax bill equal to her purchase price.
College is paid for. We only have one kid so that we would have more financial freedom. With $7M we have plenty to pay for health insurance and property taxes. Plenty! But by all means go ahead and widdle away for 10+ more years in you 9-5. I will be living my life fully.
Anyone telling to you keep working has mental health issues with severe anxiety. Ignore. If you cannot retire with SEVEN f-ing millions, then 90% of US population cannot retire at all. Ever. You are at the point where money makes money for you and you do not need to work for income and you won't even touch your principal to have a nice life. congrats and ignore all this BS how you owe your kids sizeable trust funds, houses, private college grad schools, private schools for grandkids, etc. There is no such requirement.
Well the issue is that if you have $7 F'ing million at age 52, you likely are living a lifestyle that cannot continue to be supported by retiring at 52 and living until 85+. So yes, you "could" retire, many of us want to travel (and not budget travel), live in a nice house/condo, and continue living a similar lifestyle to while we were working (maybe downsize but still nice home). And that in our VHCOLA is not very feasible on $7M, if I have to pay for 13+ years of healthcare and live the way I want. Healthcare for us at 55 is $3.2K/month with a $7K/$14K deductible right now (and that's ONLY medical). So I'd estimate we will spend $4.5K/month on medical/dental/vision easily, more if either of us has an issue (spouse needed a few MRIs last year due to a new issue---well you have to pay the deductible first, and ongoing PT)
So most of us would rather work a bit longer to have the life we want, especially if you enjoy your job.
This may be difficult for some to believe, but one way to get to $7M by 50ish is to NOT spend lots of money aged 20-50, and instead save and invest your earnings. Folks who live like this do not have an inflated standard of living, and retire more than comfortably at 50 or so. The key is to value your time and life more than endless possessions and to appreciate that bigger is not usually better.
- retired and living in peace and happiness
Or.. you could just be a very high earning family or have some windfall that came your way.
I am on the same page with you as far as doubting the assumption that someone with a NW of 7 mil must be a huge spender living on a lap of luxury. But the point I was trying to make that the entire objective reality of someone needing many millions to retire doesn't exist. If it existed then we would not have millions of broke seniors living off SS in their old homes and not yet having masses of old people begging on the streets. Seniors with money they can't spend and who are constantly traveling in luxury and dining out and buying homes for their kids are still minority of population. Tiny minority. Even if they may be in your face in this HCOL area. There is no objective reality where a couple needs 10 mil to retire and 7 mil is just not enough.
Anonymous
11/19/2025 22:50
Subject: Can we afford to retire now?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:The real hidden cost of retiring early is losing 401k catchup contributions.
this year I did the $23,500 and the new $11,250 catch up for 60-63. So a total of $34,750. And that is before match. For instance Fannie Mae pays a 8 percent match and they match on bonus too.
Someon making lets say $225K with a 75K bonus will get a $24,000 match.
So that would be $58,750 in 401k in one year.
60-63 alone doing max can massively increase 401k
Now imagine you work till 67 vs retiring early at 59.5 when you can first take your 401k penalty free and and did max each year with catch up at a place with a 8 percent match. Given the new 60-63 super catch ups it would grow a ton those last 7.5 years and you will be compounding your current funds too. Most likely it may double or even triple in size those last 7.5 years.
My BIL early retired at 62 in 2020. He had been pulling from his 401k the last 5 years and missed most of bull market Fall 2022 to today. By time he hits RMDs at 73 he will have used up a ton of his 401k already.
Why would I work until 67 if I have $7M now at 49. I am retiring now. LOL.
Because you are stealing from your children and grandchildren. And to be honest 10 million is minimun at that age. College alone will be $500,000 a kid for you and medical insurance soon to be $50,000 a year based on past increases.
And property taxes will be $50,000 on a average house and new cars will be 100K. and these projections arse just in next 10-15 years.
My Mother in law who bought her house in 1964 today her property tax equal her purchase price. Someone buyng a house in Bethesda in 2024 for two million by 2084 will be paying two million a year property tax. Sounds scary. But it took my MILs house just 60 years to go to an annual property tax bill equal to her purchase price.
College is paid for. We only have one kid so that we would have more financial freedom. With $7M we have plenty to pay for health insurance and property taxes. Plenty! But by all means go ahead and widdle away for 10+ more years in you 9-5. I will be living my life fully.
Anyone telling to you keep working has mental health issues with severe anxiety. Ignore. If you cannot retire with SEVEN f-ing millions, then 90% of US population cannot retire at all. Ever. You are at the point where money makes money for you and you do not need to work for income and you won't even touch your principal to have a nice life. congrats and ignore all this BS how you owe your kids sizeable trust funds, houses, private college grad schools, private schools for grandkids, etc. There is no such requirement.
Well the issue is that if you have $7 F'ing million at age 52, you likely are living a lifestyle that cannot continue to be supported by retiring at 52 and living until 85+. So yes, you "could" retire, many of us want to travel (and not budget travel), live in a nice house/condo, and continue living a similar lifestyle to while we were working (maybe downsize but still nice home). And that in our VHCOLA is not very feasible on $7M, if I have to pay for 13+ years of healthcare and live the way I want. Healthcare for us at 55 is $3.2K/month with a $7K/$14K deductible right now (and that's ONLY medical). So I'd estimate we will spend $4.5K/month on medical/dental/vision easily, more if either of us has an issue (spouse needed a few MRIs last year due to a new issue---well you have to pay the deductible first, and ongoing PT)
So most of us would rather work a bit longer to have the life we want, especially if you enjoy your job.
It's not how PP was phrased
It was literally anxiety driven BS. If you want to live on a lap of luxury and love your jobs then you are obviously not going to relate to OP or anyone else who is asking this question "can we afford to retire now" in the first place.
Anonymous
11/19/2025 11:51
Subject: Re:Can we afford to retire now?
Anonymous wrote:Anonymous wrote:To the OP: while the consensus that you’re not ready to retire tomorrow is sound, please don’t let this board convince you that you need to wait 5 years! My advice would be to start tracking your expenses more closely for a year (I use Simplifi as an easy option with a good app) while continuing to save what’s comfortable on your great earnings. With a year of data, you may well find that you can retire or significantly scale back earnings in 1-2 years. Personally, my goal is 55 and ~$4m in today’s dollars plus a paid off house. But I know that works for us because I know what we spend to feel comfortable.
Did you miss the part where she’s still paying for private HS and hasn’t paid for college yet?
+1
Yup! the OP "Could retire now" but not with the private HS and college not fully funded yet. Oh, and still owes over $600K on their house. Most planning to retire early have education taken care of (saved for) and own their home (or have the money set aside to pay it off and it's not part of their "retirement dollar amount").
Anonymous
11/19/2025 11:50
Subject: Can we afford to retire now?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:The real hidden cost of retiring early is losing 401k catchup contributions.
this year I did the $23,500 and the new $11,250 catch up for 60-63. So a total of $34,750. And that is before match. For instance Fannie Mae pays a 8 percent match and they match on bonus too.
Someon making lets say $225K with a 75K bonus will get a $24,000 match.
So that would be $58,750 in 401k in one year.
60-63 alone doing max can massively increase 401k
Now imagine you work till 67 vs retiring early at 59.5 when you can first take your 401k penalty free and and did max each year with catch up at a place with a 8 percent match. Given the new 60-63 super catch ups it would grow a ton those last 7.5 years and you will be compounding your current funds too. Most likely it may double or even triple in size those last 7.5 years.
My BIL early retired at 62 in 2020. He had been pulling from his 401k the last 5 years and missed most of bull market Fall 2022 to today. By time he hits RMDs at 73 he will have used up a ton of his 401k already.
Why would I work until 67 if I have $7M now at 49. I am retiring now. LOL.
Because you are stealing from your children and grandchildren. And to be honest 10 million is minimun at that age. College alone will be $500,000 a kid for you and medical insurance soon to be $50,000 a year based on past increases.
And property taxes will be $50,000 on a average house and new cars will be 100K. and these projections arse just in next 10-15 years.
My Mother in law who bought her house in 1964 today her property tax equal her purchase price. Someone buyng a house in Bethesda in 2024 for two million by 2084 will be paying two million a year property tax. Sounds scary. But it took my MILs house just 60 years to go to an annual property tax bill equal to her purchase price.
College is paid for. We only have one kid so that we would have more financial freedom. With $7M we have plenty to pay for health insurance and property taxes. Plenty! But by all means go ahead and widdle away for 10+ more years in you 9-5. I will be living my life fully.
Anyone telling to you keep working has mental health issues with severe anxiety. Ignore. If you cannot retire with SEVEN f-ing millions, then 90% of US population cannot retire at all. Ever. You are at the point where money makes money for you and you do not need to work for income and you won't even touch your principal to have a nice life. congrats and ignore all this BS how you owe your kids sizeable trust funds, houses, private college grad schools, private schools for grandkids, etc. There is no such requirement.
Well the issue is that if you have $7 F'ing million at age 52, you likely are living a lifestyle that cannot continue to be supported by retiring at 52 and living until 85+. So yes, you "could" retire, many of us want to travel (and not budget travel), live in a nice house/condo, and continue living a similar lifestyle to while we were working (maybe downsize but still nice home). And that in our VHCOLA is not very feasible on $7M, if I have to pay for 13+ years of healthcare and live the way I want. Healthcare for us at 55 is $3.2K/month with a $7K/$14K deductible right now (and that's ONLY medical). So I'd estimate we will spend $4.5K/month on medical/dental/vision easily, more if either of us has an issue (spouse needed a few MRIs last year due to a new issue---well you have to pay the deductible first, and ongoing PT)
So most of us would rather work a bit longer to have the life we want, especially if you enjoy your job.
This may be difficult for some to believe, but one way to get to $7M by 50ish is to NOT spend lots of money aged 20-50, and instead save and invest your earnings. Folks who live like this do not have an inflated standard of living, and retire more than comfortably at 50 or so. The key is to value your time and life more than endless possessions and to appreciate that bigger is not usually better.
- retired and living in peace and happiness
We lived like that up until about 45. Then college was fully funded, we had a company sale, and we finally started "spending more". So we had $10M+ at that age. But we still retired at 56 and are set. Spouse loved their job, so didn't want to retire until 56/57 (always had been the goal) (and sticking around for another 10 years did mean adding significantly to our bottom line (now approaching UHNW).
But point remains that many with that much are not saving as much (I know I see it with friends/co-workers).
Anonymous
11/19/2025 07:24
Subject: Re:Can we afford to retire now?
Anonymous wrote:To the OP: while the consensus that you’re not ready to retire tomorrow is sound, please don’t let this board convince you that you need to wait 5 years! My advice would be to start tracking your expenses more closely for a year (I use Simplifi as an easy option with a good app) while continuing to save what’s comfortable on your great earnings. With a year of data, you may well find that you can retire or significantly scale back earnings in 1-2 years. Personally, my goal is 55 and ~$4m in today’s dollars plus a paid off house. But I know that works for us because I know what we spend to feel comfortable.
Did you miss the part where she’s still paying for private HS and hasn’t paid for college yet?
Anonymous
11/18/2025 23:22
Subject: Re:Can we afford to retire now?
To the OP: while the consensus that you’re not ready to retire tomorrow is sound, please don’t let this board convince you that you need to wait 5 years! My advice would be to start tracking your expenses more closely for a year (I use Simplifi as an easy option with a good app) while continuing to save what’s comfortable on your great earnings. With a year of data, you may well find that you can retire or significantly scale back earnings in 1-2 years. Personally, my goal is 55 and ~$4m in today’s dollars plus a paid off house. But I know that works for us because I know what we spend to feel comfortable.
Anonymous
11/18/2025 20:08
Subject: Can we afford to retire now?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:The real hidden cost of retiring early is losing 401k catchup contributions.
this year I did the $23,500 and the new $11,250 catch up for 60-63. So a total of $34,750. And that is before match. For instance Fannie Mae pays a 8 percent match and they match on bonus too.
Someon making lets say $225K with a 75K bonus will get a $24,000 match.
So that would be $58,750 in 401k in one year.
60-63 alone doing max can massively increase 401k
Now imagine you work till 67 vs retiring early at 59.5 when you can first take your 401k penalty free and and did max each year with catch up at a place with a 8 percent match. Given the new 60-63 super catch ups it would grow a ton those last 7.5 years and you will be compounding your current funds too. Most likely it may double or even triple in size those last 7.5 years.
My BIL early retired at 62 in 2020. He had been pulling from his 401k the last 5 years and missed most of bull market Fall 2022 to today. By time he hits RMDs at 73 he will have used up a ton of his 401k already.
Why would I work until 67 if I have $7M now at 49. I am retiring now. LOL.
Because you are stealing from your children and grandchildren. And to be honest 10 million is minimun at that age. College alone will be $500,000 a kid for you and medical insurance soon to be $50,000 a year based on past increases.
And property taxes will be $50,000 on a average house and new cars will be 100K. and these projections arse just in next 10-15 years.
My Mother in law who bought her house in 1964 today her property tax equal her purchase price. Someone buyng a house in Bethesda in 2024 for two million by 2084 will be paying two million a year property tax. Sounds scary. But it took my MILs house just 60 years to go to an annual property tax bill equal to her purchase price.
College is paid for. We only have one kid so that we would have more financial freedom. With $7M we have plenty to pay for health insurance and property taxes. Plenty! But by all means go ahead and widdle away for 10+ more years in you 9-5. I will be living my life fully.
Anyone telling to you keep working has mental health issues with severe anxiety. Ignore. If you cannot retire with SEVEN f-ing millions, then 90% of US population cannot retire at all. Ever. You are at the point where money makes money for you and you do not need to work for income and you won't even touch your principal to have a nice life. congrats and ignore all this BS how you owe your kids sizeable trust funds, houses, private college grad schools, private schools for grandkids, etc. There is no such requirement.
Well the issue is that if you have $7 F'ing million at age 52, you likely are living a lifestyle that cannot continue to be supported by retiring at 52 and living until 85+. So yes, you "could" retire, many of us want to travel (and not budget travel), live in a nice house/condo, and continue living a similar lifestyle to while we were working (maybe downsize but still nice home). And that in our VHCOLA is not very feasible on $7M, if I have to pay for 13+ years of healthcare and live the way I want. Healthcare for us at 55 is $3.2K/month with a $7K/$14K deductible right now (and that's ONLY medical). So I'd estimate we will spend $4.5K/month on medical/dental/vision easily, more if either of us has an issue (spouse needed a few MRIs last year due to a new issue---well you have to pay the deductible first, and ongoing PT)
So most of us would rather work a bit longer to have the life we want, especially if you enjoy your job.
This may be difficult for some to believe, but one way to get to $7M by 50ish is to NOT spend lots of money aged 20-50, and instead save and invest your earnings. Folks who live like this do not have an inflated standard of living, and retire more than comfortably at 50 or so. The key is to value your time and life more than endless possessions and to appreciate that bigger is not usually better.
- retired and living in peace and happiness
Preach!
Anonymous
11/18/2025 19:53
Subject: Can we afford to retire now?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:The real hidden cost of retiring early is losing 401k catchup contributions.
this year I did the $23,500 and the new $11,250 catch up for 60-63. So a total of $34,750. And that is before match. For instance Fannie Mae pays a 8 percent match and they match on bonus too.
Someon making lets say $225K with a 75K bonus will get a $24,000 match.
So that would be $58,750 in 401k in one year.
60-63 alone doing max can massively increase 401k
Now imagine you work till 67 vs retiring early at 59.5 when you can first take your 401k penalty free and and did max each year with catch up at a place with a 8 percent match. Given the new 60-63 super catch ups it would grow a ton those last 7.5 years and you will be compounding your current funds too. Most likely it may double or even triple in size those last 7.5 years.
My BIL early retired at 62 in 2020. He had been pulling from his 401k the last 5 years and missed most of bull market Fall 2022 to today. By time he hits RMDs at 73 he will have used up a ton of his 401k already.
Why would I work until 67 if I have $7M now at 49. I am retiring now. LOL.
Because you are stealing from your children and grandchildren. And to be honest 10 million is minimun at that age. College alone will be $500,000 a kid for you and medical insurance soon to be $50,000 a year based on past increases.
And property taxes will be $50,000 on a average house and new cars will be 100K. and these projections arse just in next 10-15 years.
My Mother in law who bought her house in 1964 today her property tax equal her purchase price. Someone buyng a house in Bethesda in 2024 for two million by 2084 will be paying two million a year property tax. Sounds scary. But it took my MILs house just 60 years to go to an annual property tax bill equal to her purchase price.
College is paid for. We only have one kid so that we would have more financial freedom. With $7M we have plenty to pay for health insurance and property taxes. Plenty! But by all means go ahead and widdle away for 10+ more years in you 9-5. I will be living my life fully.
Anyone telling to you keep working has mental health issues with severe anxiety. Ignore. If you cannot retire with SEVEN f-ing millions, then 90% of US population cannot retire at all. Ever. You are at the point where money makes money for you and you do not need to work for income and you won't even touch your principal to have a nice life. congrats and ignore all this BS how you owe your kids sizeable trust funds, houses, private college grad schools, private schools for grandkids, etc. There is no such requirement.
Well the issue is that if you have $7 F'ing million at age 52, you likely are living a lifestyle that cannot continue to be supported by retiring at 52 and living until 85+. So yes, you "could" retire, many of us want to travel (and not budget travel), live in a nice house/condo, and continue living a similar lifestyle to while we were working (maybe downsize but still nice home). And that in our VHCOLA is not very feasible on $7M, if I have to pay for 13+ years of healthcare and live the way I want. Healthcare for us at 55 is $3.2K/month with a $7K/$14K deductible right now (and that's ONLY medical). So I'd estimate we will spend $4.5K/month on medical/dental/vision easily, more if either of us has an issue (spouse needed a few MRIs last year due to a new issue---well you have to pay the deductible first, and ongoing PT)
So most of us would rather work a bit longer to have the life we want, especially if you enjoy your job.
This may be difficult for some to believe, but one way to get to $7M by 50ish is to NOT spend lots of money aged 20-50, and instead save and invest your earnings. Folks who live like this do not have an inflated standard of living, and retire more than comfortably at 50 or so. The key is to value your time and life more than endless possessions and to appreciate that bigger is not usually better.
- retired and living in peace and happiness
Anonymous
11/18/2025 18:57
Subject: Can we afford to retire now?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:The real hidden cost of retiring early is losing 401k catchup contributions.
this year I did the $23,500 and the new $11,250 catch up for 60-63. So a total of $34,750. And that is before match. For instance Fannie Mae pays a 8 percent match and they match on bonus too.
Someon making lets say $225K with a 75K bonus will get a $24,000 match.
So that would be $58,750 in 401k in one year.
60-63 alone doing max can massively increase 401k
Now imagine you work till 67 vs retiring early at 59.5 when you can first take your 401k penalty free and and did max each year with catch up at a place with a 8 percent match. Given the new 60-63 super catch ups it would grow a ton those last 7.5 years and you will be compounding your current funds too. Most likely it may double or even triple in size those last 7.5 years.
My BIL early retired at 62 in 2020. He had been pulling from his 401k the last 5 years and missed most of bull market Fall 2022 to today. By time he hits RMDs at 73 he will have used up a ton of his 401k already.
Why would I work until 67 if I have $7M now at 49. I am retiring now. LOL.
Because you are stealing from your children and grandchildren. And to be honest 10 million is minimun at that age. College alone will be $500,000 a kid for you and medical insurance soon to be $50,000 a year based on past increases.
And property taxes will be $50,000 on a average house and new cars will be 100K. and these projections arse just in next 10-15 years.
My Mother in law who bought her house in 1964 today her property tax equal her purchase price. Someone buyng a house in Bethesda in 2024 for two million by 2084 will be paying two million a year property tax. Sounds scary. But it took my MILs house just 60 years to go to an annual property tax bill equal to her purchase price.
College is paid for. We only have one kid so that we would have more financial freedom. With $7M we have plenty to pay for health insurance and property taxes. Plenty! But by all means go ahead and widdle away for 10+ more years in you 9-5. I will be living my life fully.
Anyone telling to you keep working has mental health issues with severe anxiety. Ignore. If you cannot retire with SEVEN f-ing millions, then 90% of US population cannot retire at all. Ever. You are at the point where money makes money for you and you do not need to work for income and you won't even touch your principal to have a nice life. congrats and ignore all this BS how you owe your kids sizeable trust funds, houses, private college grad schools, private schools for grandkids, etc. There is no such requirement.
Well the issue is that if you have $7 F'ing million at age 52, you likely are living a lifestyle that cannot continue to be supported by retiring at 52 and living until 85+. So yes, you "could" retire, many of us want to travel (and not budget travel), live in a nice house/condo, and continue living a similar lifestyle to while we were working (maybe downsize but still nice home). And that in our VHCOLA is not very feasible on $7M, if I have to pay for 13+ years of healthcare and live the way I want. Healthcare for us at 55 is $3.2K/month with a $7K/$14K deductible right now (and that's ONLY medical). So I'd estimate we will spend $4.5K/month on medical/dental/vision easily, more if either of us has an issue (spouse needed a few MRIs last year due to a new issue---well you have to pay the deductible first, and ongoing PT)
So most of us would rather work a bit longer to have the life we want, especially if you enjoy your job.
Anonymous
11/18/2025 18:53
Subject: Can we afford to retire now?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:The real hidden cost of retiring early is losing 401k catchup contributions.
this year I did the $23,500 and the new $11,250 catch up for 60-63. So a total of $34,750. And that is before match. For instance Fannie Mae pays a 8 percent match and they match on bonus too.
Someon making lets say $225K with a 75K bonus will get a $24,000 match.
So that would be $58,750 in 401k in one year.
60-63 alone doing max can massively increase 401k
Now imagine you work till 67 vs retiring early at 59.5 when you can first take your 401k penalty free and and did max each year with catch up at a place with a 8 percent match. Given the new 60-63 super catch ups it would grow a ton those last 7.5 years and you will be compounding your current funds too. Most likely it may double or even triple in size those last 7.5 years.
My BIL early retired at 62 in 2020. He had been pulling from his 401k the last 5 years and missed most of bull market Fall 2022 to today. By time he hits RMDs at 73 he will have used up a ton of his 401k already.
Right, but if you started early and have millions in your 401K / TSP by retirement, catchup contributions are small change. It's not worth forfeiting your healthy years of retirement for another million if you already saved enough.
This
you shouldn't be retiring early if you actually need to add that much more to retirement and have it grow tax free. If that's the case, you are not ready to retire.
But yes, retire early if you can and just enjoy life and your good health (hopefully). You never know when things will decline (hint: in your 50s, even if you exercise and are healthy, shit starts to happen for many, it's natural decline of your body, so don't wait until 67 to travel and do things you want, you might not be able to)
And who is traveling with you when you retire early. At 55 nearly everyone on my block had a housefull of kids at home all in school and pets. My new nieghbor I just met who is 55 has a 11, 13, 17 and 20 year old at home. Her husband is 58. Exactly how are they retiring and traveling the world young?
Well if you still have kids at home at that age, that was your choice. We are 55 and last kid is senior in college (undergrad and grad school fully funded). So we are retired. So for now, it's mostly us traveling---strange that we as a couple like to spend time together, right? Many friends can "work from anywhere" so we also travel with some of our friends for parts of the trips---they work 5-6 hours and by 3pm we have rest of day together to do things with them.
But I don't need to travel with a group---we like spending time togehter and when possible the kids join for 1-2 trips a year.
Anonymous
11/18/2025 18:51
Subject: Can we afford to retire now?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:The real hidden cost of retiring early is losing 401k catchup contributions.
this year I did the $23,500 and the new $11,250 catch up for 60-63. So a total of $34,750. And that is before match. For instance Fannie Mae pays a 8 percent match and they match on bonus too.
Someon making lets say $225K with a 75K bonus will get a $24,000 match.
So that would be $58,750 in 401k in one year.
60-63 alone doing max can massively increase 401k
Now imagine you work till 67 vs retiring early at 59.5 when you can first take your 401k penalty free and and did max each year with catch up at a place with a 8 percent match. Given the new 60-63 super catch ups it would grow a ton those last 7.5 years and you will be compounding your current funds too. Most likely it may double or even triple in size those last 7.5 years.
My BIL early retired at 62 in 2020. He had been pulling from his 401k the last 5 years and missed most of bull market Fall 2022 to today. By time he hits RMDs at 73 he will have used up a ton of his 401k already.
Right, but if you started early and have millions in your 401K / TSP by retirement, catchup contributions are small change. It's not worth forfeiting your healthy years of retirement for another million if you already saved enough.
This
you shouldn't be retiring early if you actually need to add that much more to retirement and have it grow tax free. If that's the case, you are not ready to retire.
But yes, retire early if you can and just enjoy life and your good health (hopefully). You never know when things will decline (hint: in your 50s, even if you exercise and are healthy, shit starts to happen for many, it's natural decline of your body, so don't wait until 67 to travel and do things you want, you might not be able to)
So this advice varies by family and by person. No for most UMC people the 50s are not when there are issues that would impact travel. That was the case 75 years ago. For many people it is not until their 70s or even 80s when they have issues. You never know but thinking you will have issues in your 50s that will prevent travel is crazy in 2025 for UMC people.
No not issues to prevent travel but issues start to appear in your 50s, so I'd prefer to have all the "dream travel" done by 70, so 55-70 is when we are doing it. If we are still good at 70, great we will travel. If not, we will travel to our kids/grandkids and not regret our choices, because we retired at 55 and not at 65/67.
Also, you never know when those issues will hinder travel. We are extremely healthy, yet in mid 50s, things have started cropping up. So I wouldn't want to wait until 70 to start our adventures of traveling